115 research outputs found

    Compounding COVID-19 and climate risks: The interplay of banks’ lending and government's policy in the shock recovery

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    We assess the individual and compounding impacts of COVID-19 and climate physical risks in the economy and finance, using the EIRIN Stock-Flow Consistent model. We study the interplay between banks’ lending decisions and government's policy effectiveness in the economic recovery process. We calibrate EIRIN on Mexico, being a country highly exposed to COVID-19 and hurricanes risks. By embedding financial actors and the credit market, and by endogenising investors’ expectations, EIRIN analyses the finance-economy feedbacks, providing an accurate assessment of risks and policy co-benefits. We quantify the impacts of compounding COVID-19 and hurricanes on GDP through time using a compound risk indicator. We find that procyclical lending and credit market constraints amplify the initial shocks by limiting firms’ recovery investments, thus mining the effectiveness of higher government spending. When COVID-19 and hurricanes compound, non-linear dynamics that amplify losses emerge, negatively affecting the economic recovery, banks’ financial stability and public debt sustainability

    Assessment of the economic and social impact using SROI: An application to sport companies

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    This paper evaluates the social impact of a football club and its philanthropic organization on the local community and its stakeholders, namely supporters, sponsors, players, and shopkeepers. The methodology used is the Social Return on Investment (SROI). SROI methodology includes all the beneficiaries that are beyond the scope of the company's accounting and its fiscal and financial statements. The aim is to assess both the benefits and the negative impacts of a company's activities on stakeholders. This type of analysis combines the use of qualitative, quantitative and financial information gathered and analyzes them in order to estimate the amount of "value", including mental health and well-being, created or destroyed by a business activity, by a project or by the overall operation of an organization. The sport club under review in the present analysis is called Virtus Entella, an Italian football club playing in the second division. An SROI indicator was applied in reference to the business activity that took place during the championship season 2017/2018. Results show that the social impact created during the championship amounts to approximately 44 million Euro against a financial investment of 15 million Euro, producing an SROI ratio of 2.98:1. This outcome suggests that for every euro invested by the football club, about 3 Euros of social value is created

    Novel Strategies for Recycling Poly(butylene adipate-co-terephthalate)-Starch-Based Plastics: Selective Solubilization and Depolymerization-Repolymerization Processes

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    Starch-based plastics (SBPs) containing poly(butylene adipate-co-terephthalate) (PBAT) are among the most produced bioplastics on the market and are currently managed at their end of life (EoL) through composting. In view of developing novel EoL approaches, SBPs were characterized here in terms of their main components (PBAT, starch, and plasticizer), and three strategies for their recycling were investigated: (I) the selective solubilization of PBAT with ethyl acetate; (II) a two-step depolymerization-repolymerization process that consists of the catalytic selective alcoholysis of PBAT into its oligomers, followed by their repolymerization to PBAT with no need of adding a new catalyst; and (III) the complete selective depolymerization of PBAT, followed by the recovery and purification of butanediol (1,4-BD), dimethyl terephthalate (DMT), and dimethyl adipate (DMA). Up to 99, 95, and 93% recovery of the SBP components was obtained, respectively, following these three methods. Extensive characterization of the recovered PBAT was performed through molecular weight and thermal and thermomechanical analyses, demonstrating the efficiency of the processes. The environmental sustainability of the proposed approaches was also preliminarily evaluated through the calculation of their environmental factor (E-factor)

    Rubbery nanofibers by co-electrospinning of almost immiscible NBR and PCL blends

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    The paper presents a simple method for producing rubbery nanofibers without additional crosslinking required. Electrospinning's fast solvent evaporation is able to induce in liquid NBR/PCL pairs thermoplastic elastomeric (TPE) structure that holds stable over time without any further processing. The slight relative solubility of the polymers pair promotes a homogeneous blend formation with low Tg regions of blended NBR/PCL, avoiding phase separation. Such nanofibers show also a PCL-like crystal phase that is surprisingly higher than plain PCL nanofibrous counterpart and seemingly promoted by NBR/PCL interaction at molecular scale. The obtained nanofibrous-TPE morphology is reproducible, stable with time up to at least two years and is detected in a wide range of blend compositions (up to 80%wt NBR). Such a morphology reflects in good mechanical properties, which are analysed with a fitting model taking into account nanofibrous structure. Its impressive fitting ability helps interpretation of tensile tests behavior, carried out via normalization of force data with respect to sample mass, highlighting the contribution of liquid rubber in improving both elastic modulus and properties at failure. Such rubbery nanofibers represent a cost-effective powerful tool for the production of advanced self-damping composite materials with improved overall mechanical properties

    A Thermoplastic Elastomeric Nanofibrous Membrane as CFRP Modifier to Boost Both Delamination and Damping Performance

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    In the present work, thermoplastic elastomeric nanofibers made up of a homogenous blend of nitrile butadiene rubber (NBR) and Ppolycaprolactone (CL), with 80% wt of rubbery component, are used to modify a carbon fiber reinforced polymer (CFRP) laminate with the aim of improving its delamination and damping behavior at the same time. Since the nanofibrous membrane is not chemically cross-linked, the fibrous morphology is lost during composite curing owing to its melting. Nonetheless, the nanomodified CFRP displays an impressive ability to improve the delamination resistance in mode I and also an enhanced damping capacity at low temperature. The use of nanofibrous membranes allows for modification of specifically selected areas, thus maximizing the toughening and damping behavior where most required, without necessarily affecting the whole bulk of the resin. Both PCL and NBR components contribute to the final performance; however, the very high amount of rubber leads to a membrane difficult to handle whose final performance in CFRP modification is not superior to membranes up to 60% wt NBR that are instead more stable and easier to deal with. Overall, the proposed results are nonetheless very promising, taking into account also that the improved delamination resistance in mode I and enhanced damping are obtained without significantly sacrificing the weight and overall dimension of the obtained composite

    A New Wood Surface Flame-Retardant Based on Poly-m-Aramid Electrospun Nanofibers

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    Poly(meta-phenylene isophtalamide) (PMIA) was processed via electrospinning to provide nanofibrous membranes with randomly and aligned fibers. Mechanical performance of such membranes was evaluated, applying a normalization procedure that takes into account the peculiar morphology of such complex substrate where voids can sum up to almost 80% of the sample volume. Random and aligned fibers membranes are applied onto wood panels to test their fire resistance in cone calorimetry when coated in polyaramidic thin nanofiber mats. Tests highlighted that random fibers provide a better fire protection, increasing Time to Ignition and decreasing the Fire Performance Index. Another important parameter affecting the performance is the adhesive system used to apply the nanofibers onto wood that is able to significantly modify the fire performance of the polyaramidic-coated wood panels. POLYM. ENG. SCI., 2019. (c) 2019 Society of Plastics Engineer

    Chemical Recycling of Polyhydroxybutyrate (PHB) into Bio-Based Solvents and Their Use in a Circular PHB Extraction

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    Two novel protocols for the chemical valorization of polyhydroxybutyrate (PHB) were developed, aiming at the production of two bio-based molecules: methyl 3-hydroxybutyrate (MHB) and methyl 3-methoxybutyrate (MMB). Optimized reaction conditions were applied to pure PHB and PHB inclusions inside bacterial cells as starting materials. MHB was synthesized through a single-step catalytic methanolysis, while MMB was synthesized through a three-step process: thermolytic distillation to give crotonic acid (CA), esterification to give methyl crotonate (MC), and oxa-Michael addition of MeOH. The obtained MHB and MMB were tested as solvents for the recovery of PHB itself both from freeze-dried single strain cultures (SSC) and mixed microbial cultures (MMC) with low to medium contents of PHB (22-57 wt %). High PHB recovery was achieved: up to 96 ± 1% through MHB and up to 98 ± 1% through MMB. Extraction from MMC slurry (with a PHB content of 39% on dry weight) was also performed, recovering 77 ± 2% using MHB and 92 ± 2% using MMB. High purities and excellent molecular weights and polydispersity indexes of extracted PHB were obtained with both MHB and MMB. Solubility in water, octanol/water partition coefficients (log Kow), and aerobic ready biodegradability of both solvents were also evaluated

    Exploitation of rubbery electrospun nanofibrous mat for fracture toughness improvement of structural epoxy adhesive bonded joints

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    The improvement of the fracture toughness of adhesive joints is a key factor in many structural applications. The ability of nylon electrospun nanofibrous mat to act as an adhesive carrier and reinforcing web in adhesive bonding has been demonstrated by the Authors in previous works. It has been shown that the impregnation method developed and refined during the previous studies allow generating high-quality pre-preg nanomats out of a 2k unfilled epoxy resin. By applying this methodology, in the present work, rubbery nanofibrous mats have been adopted for the first time to reinforce and increase the fracture toughness of adhesive joints. Rubbery nanofibers were produced by electrospinning of nitrile butadiene rubber (NBR) and poly(ε-caprolactone) (PCL). The addition of the semi-crystalline polymer (PCL) is exploited to maintain the nanofibrous morphology, which the rubber alone (NBR) would not be able to ensure due to its low glass transition temperature (Tg). The nanofibers thus obtained have been integrated into a two-component high strength epoxy resin for structural applications. S235 steel adherends for Double Cantilever Beam (DCB) tests have been manufactured and sandblasted to improve adhesion. An optimization of the sandblasting parameters (distance, pressure, angle and time) has been carried out evaluating the shear strength and the fracture surfaces on S235 steel Single Lap Joints (SLJ). Finally, DCB tests have been performed to compare the mode I fracture toughness with and without the rubbery electrospun nanomats
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